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Tuesday, 4 October 2016

President Buhari Writes Senate on 2017 Budget [See Full Letter]

President Muhammadu Buhari on Tuesday forwarded to the Senate for approval, the 2017, 2018 and 2019 Medium Term Expenditure Framework and Fiscal Strategy Paper, MTEF & FSP for discussions and subsequent approval.

President Buhari who wrote the Senate informing it of the MTEF and FSP, said that preparation by the Executive towards the submission of the 2017 budget to the National Assembly was progressing well.

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The letter reads thus:

“I am pleased to submit the 2017-2019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly.

Let me use this medium to express my gratitude for the enduring partnership between the legislative and the executive arms of government.

“In particular, I note with appreciation the commitment and support that distinguished senators have continued to demonstrate with respect to the preparation passage and implementation of the federal budget. “Pursuant to provisions of the Fiscal Responsibility Act of 2007, the preparation towards the submission of the 2017 budget to the National Assembly is progressing well.

“The MTEF and FSP which provides the framework for the development of the 2017 budget was designed against the backdrop of a generally advanced global economic environment as well as fiscal challenges in domestic economy.

“In this regard the 2017-2019 MTEF and FSP articulates the Federal Government economic, socio and developmental objectives as well as the strategies for achieving this divine objectives and priorities.

“I hereby forward the 2017-2019 MTEF and FSP to the distinguished senate and trust that it will be kindly considered, expeditiously approved so as to move the 2017 Federal Budget process forward. “Please accept the distinguished senate president the assurances of my highest consideration.”

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